Europejski Urząd Nadzoru Giełd i Papierów Wartościowych (European Securities and Markets Authority - ESMA), Sprawozdanie Wspólnego Komitetu dotyczące wdrażania i funkcjonowania rozporządzenia w sprawie sekurytyzacji (art. 44)

17 May 2021

JC 2021 31

JOINT COMMITTEE REPORT ON THE IMPLEMENTATION AND FUNCTIONING OF THE SECURITISATION REGULATION (ARTICLE 44)

1. Executive Summary

1. This report aims to identify the status of the application of the Securitisation Regulation (Regulation (EU) 2017/2402 ) (SECR) as well as some initial inconsistencies and challenges that occurred in the first years of implementation of the SECR and which may affect the overall efficiency and consistency of the new securitisation regime. Based on evidence collected from market participants and competent authorities, the report also identifies possible solutions, recommendations and key messages to address them. However, it should be noted that, due to the late adoption of the level 2 implementing measures, the report is based on a limited experience with regards to the status of application of the SECR.

2. In accordance with the mandate provided in Article 44of the SECR, the analysis focuses on the implementation of the general...